Home Equity, Refi Loans
Solar Home Equity
Next to paying cash, the best way to finance a solar panel system is to tap into the equity in your home. The interest rate and lifetime cost is relatively low compared to other solar financing options like a solar lease or a solar power purchase agreement. Most people don't want to pay more than they have to for solar power, and a home equity loan can really give your the buying power to make a great financial investment with solar panels.
Another great way to pay for your solar panels is a solar home improvement loan, which is a government FHA-backed Title-1 Home Improvement Loan is designed for homeowners with or without equity. A solar panel system will also increase the equity value in your home. Similar to most other home improvements like a new kitchen or master suite, solar panels make your home more valuable and attractive. They reduce the monthly household expense by reducing or eliminating the electric bills. Plus, you will make a positive contribution to your community by producing clean, renewable solar power.